Banking: Omni Channel Marketing ROI & Optimization
Large Retail Bank Lacked True Marketing ROI & Ability to Optimize Omni Channel Advertising
With dozens of locations in the United States, this Retail Bank had a definitive need for understanding how to drive more targeted foot traffic to its stores, and on top of that, measure its ROI across online and offline advertising channels. But existing approches, such as digital attribution, only provided visibility into digital channels, and even then it seemed many customers were untrackable. The Retail Bank sought a solution that could account for offline channels, and enable comprehensive budget allocation for all media channels, including the ability to determine most effective ad creative.
Revenue Data Platform (RDP) Delivered Omni Channel Optimization
Transform's RDP integrated with digital media channels and the Retail Bank's ad server, as well as website analytics, and automatically ingested omni channel budgets from regularly updated spreadsheets. Our RDP also connected with FIS - where the Retail Bank's revenue data was stored - and produced statistical models using its machine learning algorithms. These models provided historical ROI for all advertising initiatives for the past several years, and enabled predictive insights. Furthermore, RDP leveraged Efficient Frontier Asset Allocation approaches to determine the optimal level of spend across all channels.
RDP Saves Costs & Empowers Revenue Growth
RDP eliminates advertising waste at the Retail Bank, and produces highly accurate pictures of which channels are contributing most successfully to ROI. RDP's recommended allocations successfully generate new customers. RDP also delivers recommendations for optimizing to increase foot traffic, as well as new customer transactions - and these recommendations are available at a national, regional, or individual market level.